Gemmy Tuệ An · Tools
ICM Calculator
Calculate Independent Chip Model to evaluate the real value of chips in a tournament based on stacks and payout structure.
ICM: why chips are not money
ICM — the Independent Chip Model — converts chip stacks into expected money value based on the remaining payout structure. In a cash game 1,000 chips are always worth 1,000 chips. In a tournament they are not: doubling your stack does not double your expected prize, because you can only win first place once while the payout ladder flattens toward the top.
The practical consequence is that chips lost always cost more than chips won gain. That is why a call which is clearly correct on equity becomes wrong near the bubble: you are risking money you have nearly locked up in exchange for an increase worth less than what you put at risk. This calculator quantifies that gap instead of leaving you to estimate it by feel.
Three situations deserve the most attention. First, the bubble itself, when a paid finish is only a couple of eliminations away. Second, large pay jumps at the final table, especially when the gap between third and second is bigger than the gap between fifth and fourth. Third, being the middle stack caught between one very large stack and several very short ones — the spot ICM squeezes hardest, and the one most players misplay.
To use it, enter the payout structure and every remaining stack; the tool returns the expected money value of each. Compare your current value against your value in the win and lose branches of a specific pot to see what you are actually risking. Note that the model assumes all players are equally skilled — if there are clearly weaker players left, the value of surviving is higher still than raw ICM suggests.
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Frequently asked questions
What does ICM stand for?
Independent Chip Model — a model that converts chip stacks into expected money value based on the payout structure and the stacks of everyone still in the tournament.
When does ICM matter most?
On the bubble and at large final table pay jumps. The closer you are to a money threshold, the wider the gap between chip value and money value, and the further correct play drifts from raw equity calculations.
Does ICM apply to cash games?
No. In a cash game chips convert linearly into money, so decisions only need equity and pot odds.
Why does ICM tell me to fold a hand with over 50% equity?
Because winning the pot raises your money value by less than losing it lowers your money value. Near the bubble a call can be chip-positive and money-negative at the same time — that gap is exactly what ICM measures.